PACE High Yield Fund (PHIAX) Class A

PACE High Yield fund is one of best high yield corporate bond mutual funds. This taxable fixed income fund also has a yield of 7.11%. You can find the fund review below.

PACE High Yield A (Ticker: PHIAX)

The PACE High Yield fund objective is to achieve total return by investing in a diversified portfolio of fixed income securities rated below investment grade or high yield bonds. It also may invest in US and/or non-US senior secured bank loans. It invests in different countries around the world, including the U.S.

Fund Details

• Fund Inception Date: May 2, 2006
• Ticker Symbol: PHIAX
• CUSIP: 69373W780
• Beta (3yr): -0.09
• Rank in category (YTD): 11%
• Category: High Yield Bond
• Yield: 7.11%
• Capital Gains: 0%
• Expense Ratio: 1.33%
• Net Assets: $ 286.62 million
• Number of Years Up: 3 years
• Number of Years Down: 2 years
• Annual Turnover Rate: 36%

updated on 10/25/2012

This High Yield Bond fund has total net assets of $286.62 million. It is under the management of UBS Global Asset Management. Its yield is 7.11%. This yield is distributed on monthly basis. Since its inception, this PACE High Yield fund has been managed by Taylor N. Wagenseil. He is the Director and Co-Head of High Yield portfolio management.

Pace High Yield Fund

Best High Yield Bond Mutual Funds 2012

Morningstar has ranked this fixed income fund with 4 stars. The YTD return is 7.08%. It has its best return in 2009 (50.39%).The worst return was occurred in 2008 (-18.72%). It has returned 19.61% over the past 3-year and 7.41% over the past 5-year. The 3-year beta is -0.09.

The minimum initial investment for brokerage or retirement account is $1,000. The minimum subsequent investment is $100 or more. There are 25 brokerages that offer this high yield bond fund. They are Scottrade Load, Raymond James, Fidelity Retail Funds Network, Morgan Stanley – Brokerage Accounts, Pershing Fund Center, UBS Financial Services Inc, etc. This PACE High Yield Investment fund is also available in other classes, such as Class Y (PHDYX), Class C (PHYCX) and Class P (PHYPX).

The top 5 holdings are: AIG bond, HCA bond, Novelis bond, First Data 144A bond, CIT Group bond. The top 4 sectors include: Corporate bond (90.21%), Asset-Backed (4.34%), Preferred (2.07%), and Non-Agency Residential MBS (0.44%).

Goods:

• Low annual portfolio turnover
• Low minimum initial investment

Bads:

• Average expense ratio
• Class A has sales load

Disclosure: No Position

Other bond fund article:

• Ivy High Income Fund
• American Funds High Income Trust A